Ksh 1,000,000 loan at Victoria Commercial Bank for 20 years.
At Victoria Commercial Bank's current lending rate of 15.68%, a Ksh 1,000,000 fixed-rate loan over 20 years has a monthly repayment of Ksh 13,673. Total cost: Ksh 3,281,530 (Ksh 2,281,529 interest).
Monthly repayment
Ksh 13,673
At 15.68% · 240 payments
Total repayment
Ksh 3,281,530
3.28× the borrowed amount
Total interest
Ksh 2,281,529
Ksh 42,934 more than industry avg
Year-by-year amortisation
How each payment splits between interest and principal over time.
| End of year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| Year 1 | Ksh 7,823 | Ksh 156,254 | Ksh 992,177 |
| Year 2 | Ksh 16,964 | Ksh 311,188 | Ksh 983,036 |
| Year 3 | Ksh 27,647 | Ksh 464,582 | Ksh 972,353 |
| Year 4 | Ksh 40,131 | Ksh 616,175 | Ksh 959,870 |
| Year 5 | Ksh 54,718 | Ksh 765,664 | Ksh 945,282 |
| Year 6 | Ksh 71,765 | Ksh 912,693 | Ksh 928,235 |
| Year 7 | Ksh 91,686 | Ksh 1,056,849 | Ksh 908,314 |
| Year 8 | Ksh 114,965 | Ksh 1,197,647 | Ksh 885,035 |
| Year 9 | Ksh 142,168 | Ksh 1,334,521 | Ksh 857,832 |
| Year 10 | Ksh 173,956 | Ksh 1,466,808 | Ksh 826,044 |
| Year 11 | Ksh 211,104 | Ksh 1,593,737 | Ksh 788,896 |
| Year 12 | Ksh 254,513 | Ksh 1,714,404 | Ksh 745,487 |
| Year 13 | Ksh 305,240 | Ksh 1,827,754 | Ksh 694,760 |
| Year 14 | Ksh 364,519 | Ksh 1,932,552 | Ksh 635,481 |
| Year 15 | Ksh 433,790 | Ksh 2,027,357 | Ksh 566,210 |
| Year 16 | Ksh 514,739 | Ksh 2,110,484 | Ksh 485,261 |
| Year 17 | Ksh 609,333 | Ksh 2,179,966 | Ksh 390,667 |
| Year 18 | Ksh 719,874 | Ksh 2,233,502 | Ksh 280,126 |
| Year 19 | Ksh 849,049 | Ksh 2,268,403 | Ksh 150,951 |
| Year 20 | Ksh 1,000,000 | Ksh 2,281,529 | Ksh 0 |
Could you get this cheaper?
Currently the cheapest Kenyan lender on this CBK dataset is Citibank N.A. Kenya at 10.36%. The same Ksh 1,000,000 loan over 20 years would run about Ksh 9,890/month — saving Ksh 907,945 in interest. See the Citibank N.A. Kenya version →